My wife has an LLC taxed as an S-Corp - she is the only employee. Currently she pays into a company sponsored 401k which is managed (I think somewhat expensively) by a third party. All they seem to have done is create our plan doc and yearly provide the IRS with a 5500.
I have a couple of questions regarding this...
Surely this has to be overkill?
Is there any reason why she couldn't have a Solo 401k that we can manage ourselves?
I'd like to ideally get rid of this company by the end of this year and move forward with the Solo 401k.
Please sign in to leave a comment.